Why Sears Holdings Stock Was Sliding Today
Shares of Sears Holdings Corporation (NASDAQ: SHLD) were headed lower for a second straight session after the retailer said that it would liquidate its Sears Canada stores, and as the company borrowed another $100 million from CEO Eddie Lampert's hedge fund, ESL Investments.
The demise of Sears Canada had long been in the offing, but the news only makes the prospects for Sears' U.S. stores look even dimmer. The stock was down 5.7% as of 10:59 a.m. EDT.
Image source: Sears.
Source: Fool.com